- UMEME records an increase in sales revenues
Uganda’s power electricity distributor, UMEME, has recorded an increase in sales revenue in the first six months of 2021. The increase in revenue is due to the growing import substitution and a partial payment of the outstanding debt owed by the Ugandan government.
UMEME’s total sales revenues increased to Ush827.9 billion ($233 million) in June 2021 from Ush848.8 billion ($238.9 million) in June 2020. The net profits before tax for the company also went from Ush32.2 billion ($9 million) to Ush69.6 billion ($19.6 million) for June 2020 – June 2021.
So far, UMEME has connected over 200,000 customers since the inception of the Electricity Connection Policy (ECP), which was launched in November 2018. However, due to the failure of the government to pay outstanding bills accumulated through the policy, the ECP was suspended in 2020. Following subsequent discussions, the ECP programme was restored in January.